The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Amazon.com Inc.’s second headquarters, dubbed HQ2, has lured 238 proposals extending across 54 states, provinces, districts and territories in North America, the company said. Only seven US states refrained from bidding: Arkansas, Hawaii, Wyoming, North Dakota, South Dakota, Montana and Vermont, according to a map Amazon published on its website.
Cities are battling for Amazon’s investment of $5 billion in construction and 50,000 high-paying jobs spread over the next two decades: New York City’s Mayor Bill de Blasio ordered landmarks around the city lit up in “Amazon orange†before the bids were due. Canadian Prime Minister Justin Trudeau penned a personal letter to Amazon Chief Executive Officer Jeff Bezos advocating for HQ2. Newark, New Jersey, has offered $7 billion in potential tax credits.
Amazon’s preferences for HQ2 include a metropolitan location with a population of more than 1 million, mass transit, proximity to an international flight hub and the potential to retain and attract technical talent. The new home will be a full equal to the Seattle headquarters, said the tech giant. In addition to direct hiring and investment from Amazon, HQ2 is expected to create tens of thousands of jobs and tens of billions of dollars in investment in the surrounding community. To put that into perspective, Amazon on its website estimated that its investments in Seattle from 2010 to 2016 resulted in an additional $38 billion to the city’s economy, where each dollar the company invested created an extra $1.40 for the city’s economy.
Atlanta, Boston, Chicago and Detroit are among the cities that have a chance at Amazon’s HQ2. Amazon has said it will make a decision regarding its second home next year.